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Orbex


 

                                  

Company information

Broker's name: Orbex

Website: www.orbex.com 

Headquarted in Cyprus

Regulated by: BaFin, CySEC, FCA, MiFID

E-mail Address: info@orbex.com






Orbex offers its clients a selection of account types to make sure traders of all skill level and portfolio size are well taken care of. Basically, there are two groups of account types: 3 commission-free Universal ones, offering fixed spreads, and 2 ECN accounts with floating tight spreads and commission fees.Swap-free (Islamic) service is available on all Universal accounts to Muslim investors who are unwilling to earn interest for religious reasons.

Security of Funds

CySEC applies certain requirements to license holders and sees to compliance with the rules set. For instance, customer funds must be held in segregated accounts. Besides, the Commission requires forex brokers to hold at least €1,000,000 as a proof of financial stability.

As a further guarantee to clients’ funds, all CySEC-regulated companies are members of the Investor Compensation Fund, which is able to pay compensation to its covered clients up to 20,000 EUR, in the event of broker insolvency.

Moreover, every CySEC-regulated investment company is also MiFID compliant and therefore entitled to offer cross-border services within the EU under the MiFID Passporting Regime.

Minimum Initial Deposit 

In order to open an account with Orbex, traders have to invest a minimum of $500. 


Spreads & Commission

Universal account types with Orbex are commission-free and provide comparatively low fixed spreads, amounting to 1.5 pips on the Standard account. 

Leverage

The maximum leverage level offered by Orbex is 1:500, which is considered a comparatively high ratio. 

Trading Platform

This broker supports the renown Meta Trader (MT4), desktop and mobile versions available.

MT4 is an internationally acclaimed trading terminal, offering a full spectrum of trading tools and resources: a number of built-in technical indicators, advanced charting package, a wide range of Expert Advisors (EAs) and extensive back-testing options. Traders can download ready-made or create their own EAs and let the program do all the work.

In addition, this broker offers MT4 MultiTerminal, designed exclusively for professional traders and money managers. It enables clients to manage multiple forex trading accounts simultaneously.

Besides, Orbex provides its clients with free VPS– a virtual server that you can use for hosting your MT4 EAs, providing extra protection when trading forex.

What is more, Orbex has partnered with forex analytics provider FXStat to offer its clients Auto trading via TradeBook. FxStat Tradebook is a social automatic trade service that allows allows traders to copy signals and share their own experience with the rest of the trading world.

Another Auto trading option provided by this broker is Orbex Strategizer, developed in association with TradeWorks - an algorithmic forex trading system that does not require any coding or programming to build an expert advisor.

Promotions

At the time of writing this review, Orbex offers a Refer a friend bonus. It amounts to $100 for each referred friend who starts trading with Orbex and trades a minimum of 10 standard lots.

Methods of Payment

The following payment methods are available to Orbex clients: credit/debit cards, bank wire transfer, K-net Payment Gateway: and e-wallet payment systems, such as Skrill, Neteller, WebMoney or FasaPay.

This broker charges no deposit/withdrawal fees.


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